{"id":126760,"date":"2025-04-09T04:18:42","date_gmt":"2025-04-09T04:18:42","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=126760"},"modified":"2025-04-09T04:18:42","modified_gmt":"2025-04-09T04:18:42","slug":"melania-trumps-memecoin-team-quietly-sold-30m-says-bubblemaps","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=126760","title":{"rendered":"Melania Trump\u2019s memecoin team \u2018quietly sold\u2019 $30M, says Bubblemaps"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsThe team behind US first lady Melania Trump\u2019s memecoin, Melania Meme (MELANIA), has moved $30 million worth of the token out of the project\u2019s community funds and has begun selling them, says blockchain analytics firm Bubblemaps.<br \/>\nBubblemaps said in an April 7 X post that 50 million MELANIA tokens worth around $30 million \u201cwas moved from community funds \u2014 and is now being quietly sold, with no explanation from the team.\u201d<br \/>\nIt added the tokens were moved to a single wallet before being \u201csplit across multiple addresses.\u201d From there, Bubblemaps said $3 million worth were transferred to exchanges, two new $6 million positions were opened, and $500,000 worth of MELANIA was sold.<br \/>\nSource: Bubblemaps\u201cNo one from the MELANIA team has addressed this. Not the movements. Not the selling,\u201d it added.<br \/>\nBubblemaps said that 92% of MELANIA\u2019s supply is held by \u201cteam wallets\u201d and claimed that \u201cthe damage isn\u2019t done yet.\u201d\u00a0<br \/>\nMELANIA freefalls from peak high\u00a0<br \/>\nThe MELANIA token was launched on Jan. 19, a day after Donald Trump launched his own memecoin and a day before he was due to re-enter the White House.<br \/>\nThe token has essentially lost all its value since launch and is down over 96% from its January high of over $13, and is trading at $0.51 \u2014 down over 7.5% in the last day, according to CoinGecko.<br \/>\nBubblemaps said last month that it found that Hayden Davis, who said he helped create MELANIA, had started \u201ccovertly selling $MELANIA tokens via single-sided liquidity.\u201d<br \/>\nRelated: Libra, Melania creator\u2019s \u2018Wolf of Wall Street\u2019 memecoin crashes 99%<br \/>\nThe firm claimed Davis had also used the tactic to quietly sell LIBRA, a memecoin he also copped to making that was shared by Argentine President Javier Milei, which caused a political scandal after the token\u2019s value cratered.<br \/>\nInterest in memecoins has recently waned amid a wider market rout with data from Dune Analytics in March finding that the number of tokens graduating from Solana-based memecoin launchpad, Pump.fun, had dropped by over two-thirds since January, falling from 5400 per week to just 1500.\u00a0<br \/>\nThe total number of tokens launching on Solana is also down, with data from SolScan showing only 31,651 launched on April 5, less than one-third of the 95,578 created at the peak of the memecoin frenzy this year on Jan. 26.<br \/>\nMagazine: Memecoins are ded \u2014 But Solana \u2018100x better\u2019 despite revenue plunge<a href=\"https:\/\/cointelegraph.com\/news\/melania-trump-memecoin-team-sold-30-million-bubblemaps?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsThe team behind US first lady Melania Trump\u2019s memecoin, Melania Meme (MELANIA), has moved $30 million worth of the token out of the project\u2019s community funds and has&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/126760"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=126760"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/126760\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=126760"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=126760"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=126760"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}